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UPDATE - blur Group’s new US$3mln enterprise project is largest to date

Last updated: 01:04 22 Jan 2015 AEDT, First published: 02:04 22 Jan 2015 AEDT

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--adds share price and broker comment---

blur (LON:BLUR) and its technology received another boost today - as it announced the start of a US$3mln project on its exchange.

It is the largest project so far from an enterprise customer - those with more than US$500mln a year turnover, the e-commerce specialist told investors.

Investors welcomed the news and shares rose almost 20%.

The project, expected to run for up to two years, is by a leading FMCG (fast moving consumer goods) company, responsible for some of the world's best known brands, it added.

blur chief executive Philip Letts said: "This project is significant because it demonstrates that large enterprises are increasingly recognising the advantages of using the blur Exchange.

"This is a real endorsement of our approach and ability to deliver solutions for large and technically complex projects.

"We are confident in our ability to meet almost any professional services requirement through the exchange."

So far, more than 50,000 businesses, including big names like Amazon, Caterpillar, Argos  and GE, have used blur to buy or sell services on its platform.

House broker N+ 1 Singer noted today's update followed on from the group's year end trading update indicating 2014 performance will be in line with market expectations. 

"Enterprise adoption is the key to the group’s path to sustained profitability and its traction is highly encouraging."

Shares added 19.42% to 61.5p.

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